Providing You Guaranteed Premiums With Heritage 15 Whole Life Insurance
Lafayette Life’s Heritage 15 Whole Life Policy is designed for people who are looking for guaranteed fixed premiums with a permanent1 death benefit and guaranteed cash value accumulation. You pay level premiums until age 100 or 20 years, whichever is longer, with the death benefit guaranteed for your lifetime.
Whole life insurance offers a combination of guaranteed death benefit protection, guaranteed cash value accumulation and guaranteed fixed premiums. Our Heritage 15 Whole Life Insurance policy comes with many benefits and features:
Guaranteed Fixed Premiums
The premium you pay today will be the same premium you pay in later years.
Guaranteed Lifetime Coverage
As long as premiums are paid and policy loans do not exceed the total cash value2, your coverage cannot be terminated.
Tax-Deferred Cash Value Accumulation
Your policy is designed to gradually build cash value each year on a tax-deferred3 basis. Your cash value can be accessed through policy loans4 and withdrawals to help fund a major purchase, supplement your retirement income or simply provide in times of need.
Your Heritage 15 policy may earn a dividend.5
Provided at no additional premium, you have the flexibility to access a portion of the death benefit should you be faced with a specified medical condition, terminal illness or a chronic illness.6,7
Whole Life Insurance Tailored to Fit Your Needs
Your Heritage 15 Whole Life Insurance policy can be tailored to meet your specific financial needs by several supplemental riders that can be added to your policy to help address your individual needs. You could have the option to increase the death benefit and cash value by paying an additional premium or options for the receipt of any dividends declared. Keep in mind that adding a rider to your policy may require additional premium.
What You Need to Know About Heritage 15 Whole Life Insurance
Read through our product brochure to get all the details about Heritage 15 Whole Life Insurance.
You and Lafayette Life could be a winning combination together. Whether you are ready to become a Financial Representative or would like to learn more about working with Lafayette Life, we are eager to hear from you.
1 Life insurance policy guarantees are subject to the timely payment of premiums. Loans, withdrawals and advances will reduce the death benefit and cash surrender value and may cause the policy to lapse. The lapse or surrender of a policy with an outstanding loan may result in taxable income. 2 Subject to the terms of the policy, including payment of the required premiums, suicide exclusion, contestable provision and loan provision. 3 Assumes the policy is not a Modified Endowment Contract, the withdrawals do not exceed cost basis, and the policy does not lapse. 4 Loans will accrue interest. Loans and withdrawals may generate an income tax liability, reduce the Account Value and the Death Benefit, and may cause the policy to lapse.
5 Dividends are not guaranteed and may be changed by the company at any time.
6 Not available in CA.
7 Provided through the Accelerated Death Benefit PLUS Rider (ICC16 LLR-08 1601). Certain medical histories may prevent qualification for the Accelerated Death Benefit PLUS Rider. Insureds who do not qualify for this rider will receive the Accelerated Death Benefit Rider (ICC16 LLR-07 1601). Specified Medical Condition not available in CT. Payment of Accelerated Death Benefits, if not repaid, will reduce the Death Benefit and affect the other policy values. We may charge a fee of up to $250.00 for an advance payment.
Life insurance proceeds paid in the form of an accelerated death benefit when the insured has become chronically or terminally ill, and is otherwise eligible for benefits, are intended to receive favorable tax treatment under Section 101(g) of the Internal Revenue Code (26 U.S.C. Sec. 101(g)). There may be tax consequences in some situations in accepting an accelerated benefit payment amount, such as where total payments exceed the per diem limitation under the Internal Revenue Code. Consult your tax advisor before taking an advance. The taking of rider benefits may affect eligibility for certain public assistance programs and government benefits.
An accelerated death benefit is not to be sold as or to replace long-term care insurance, nursing home insurance, or home care insurance. An accelerated death benefit (such as the Accelerated Death Benefit PLUS Rider) and long-term care insurance provide very different kinds of benefits. Life insurance products are issued and guaranteed by the Lafayette Life Insurance Company. Guarantees are based on the claims-paying ability of the company. The Lafayette Life Insurance Company, Cincinnati, Ohio, operates in D.C. and all states except NY, and is a member of Western & Southern Financial Group, Inc.
Heritage 15 Whole Life Insurance Policy series ICC14 LL-01 1404, Accelerated Death Benefit rider series ICC16 LLR-07 1601 and ICC16 LLR-08 1601 are issued by The Lafayette Life Insurance Company. Chronic Illness underwriting guidelines will be used to determine eligibility for our various Accelerated Death Benefit Riders. Product approval and rider features and benefits may vary and may not be available in all states. The Lafayette Life Insurance Company does not provide legal or tax advice. Please contact your tax or legal advisor regarding your situation.
Life insurance is not intended to be used as a savings product, retirement plan, or investment vehicle. Lafayette Life’s role is strictly limited to providing life insurance policies and annuity contracts. Any other services a Lafayette Life independent agent provides to applicants and policyholders, including but not limited to financial planning, estate and retirement planning, tax planning, or investment planning, are not provided on behalf of Lafayette Life.
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